One of the important issues for a next generation broadcasting system is how to compress a massive amount of threedimensional (3D) video efficiently. In this paper, we propose a geometry compensation method for 3D video coding exploiting color videos, depth videos and camera parameters. In the proposed method, we first generate a compensated view, which is located at the geometrically same position with the current view, using depth and camera parameters of neighboring views. Then, the compensated view is used as a reference picture to reduce the inter-view redundancies such as disparity and motion vectors. Furthermore, considering the direction of hole-regions, we propose a hole-filling method for picture of P-view to fill up the holes based on the neighboring background pixels. The experimental results show that the proposed algorithm increases BD-PSNRs up to 0.22dB and 0.63dB for P- and B-views, respectively. Meanwhile, we achieved up to 6.28% and 18.32% BD bit-rates gain for P- and B- views, respectively.